SOUTH AFRICA – GREAT BASIN GOLD of Vancouver has given the green light for development of its Burnstone gold project near Balfour. Construction of the access portal began on July 7, 2006.
The Burnstone feasibility study outlined the development of a mechanized, narrow-reef underground mine with a planned average production rate of 214,000 oz of gold per year. A 4.5- x 4.8-metre decline is being developed to enable early access to the orebody for mining. A confirmatory 26,000 tonne bulk sample will be extracted and processed. Later a 7.5-metre diameter production shaft will be sunk. Employees and equipment will use the decline for access. Great Basin anticipates that the mine will commence commercial production in 2009.
The Burnstone deposit contains a total of 9.8 million tonnes at 7.15 g/t Au in the measured and indicated categories. Another 1.7 million tonnes at 11.13 g/t is classified as inferred. The complete feasibility study is posted at www.GreatBasinGold.com.